CORPUS CHRISTI, Texas – A Corpus Christi, Texas, man has been sentenced to federal prison for conspiring to distribute cocaine in the Corpus Christi area and concealing the proceeds by purchasing and renovating homes and reselling them, United States Attorney Kenneth Magidson announced today. Jose Angel Yanez III, 30, pleaded guilty March 23, 2012.

At the sentencing hearing that concluded moments ago, U.S. District Judge Nelva Gonzalez Ramos handed Yanez a total sentence of 135 months to be followed by a five-year-term of supervised release. As a part of his plea agreement, Yanez forfeited his interest in four residential properties in the Corpus Christi area, more than $250,000 and three vehicles.

Also charged in this case, Valdemar Enriquez, 20, of San Antonio, Texas, pleaded guilty to possessing with intent to distribute cocaine on March 1, 2012, and is set for sentencing tomorrow.

Yanez was determined to be a distributor of cocaine beginning on or about June 1, 2008. At that time, he began to purchase properties in the Corpus Christi area. Agents were able to determine the proceeds from drug sales enabled Yanez to buy and renovate these houses and that Yanez believed these financial transactions enabled him to legitimize his lifestyle. Over the course of approximately two years, Yanez bought and sold 10 houses. The investigation revealed the amount of income Yanez claimed to have made over the years could not have accounted for the lifestyle he was living.

Yanez has been in federal custody since his guilty plea where he will remain transfer to a U.S. Bureau of Prisons facility to be designated in the near future where he will serve his sentence.

The Organized Crime Drug Enforcement Task Force investigation was conducted by the Drug Enforcement Administration, Internal Revenue Service – Criminal Investigation, the Texas Department of Public Safety and the Corpus Christi Police Department. The case was prosecuted by Assistant United States Attorney Michael Hess.